Published on 3/31/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.32 million autocallable accelerated barrier notes tied to stock basket
By William Gullotti
Buffalo, N.Y., March 31 – JPMorgan Chase Financial Co. LLC priced $3.32 million of 0% autocallable accelerated barrier notes due June 14, 2024 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The basket consists of Amazon.com, Inc., Microsoft Corp., Alphabet Inc., International Business Machines Corp. and ServiceNow, Inc.
If the closing level of the basket is greater than or equal to its initial level on March 27, 2024, the notes will be automatically called at par plus a 13.75% call premium.
If the basket finishes at or above its initial level, the payout at maturity will be par plus 200% of the return.
If the basket declines but finishes at or above the 80% barrier level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the basket from its initial level.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable accelerated barrier notes
|
| Underlying stocks: | Amazon.com, Inc., Microsoft Corp., Alphabet Inc., International Business Machines Corp., ServiceNow, Inc.; equal weights
|
| Amount: | $3,322,000
|
| Maturity: | June 14, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the basket finishes at or above its initial level, par plus 200% of the return; if the basket declines but finishes at or above barrier level, par; otherwise, investors will be fully exposed to the decline of the basket from initial level
|
| Automatic call: | If the closing level of the basket is greater than or equal to its initial level on March 27, 2024, the notes will be automatically called at par plus a 13.75% call premium
|
| Initial levels: | $98.13 for Amazon, $280.57 for Microsoft, $105.44 for Alphabet, $125.29 for IBM, $432.90 for ServiceNow
|
| Barrier level: | 80% of initial level
|
| Pricing date: | March 24
|
| Settlement date: | March 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48133VDK3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
